The 104-year-old club in suburban Minneapolis voted against selling to Concert Golf Partners and will remain self-managed. “Contrary to published reports, Golden Valley Country Club is not bankrupt, nor are we approaching bankruptcy,” said President Drew Fernholz. The club is engaging restoration expert Keith Foster to complete a master-planning project for its A. W. Tillinghast-designed golf course and is also launching a new “Friends and Family” membership initiative.
The membership of Golden Valley (Minn.) Country Club (GVCC) voted to retain ownership of the club on December 28, the club announced on January 12. The 2017 Board of Directors of the 104-year-old suburban Minneapolis club had presented the opportunity to the membership at the December 28 meeting to approve a proposal for the sale of the club to Concert Golf Partners of Newport Beach, Calif. But “recognizing the tremendous assets that Golden Valley Country Club possesses, the membership determined to continue to be self-managed and retain its exclusive appeal as a private club,” the club announced.
“Contrary to published reports, Golden Valley Country Club is not bankrupt, nor are we approaching bankruptcy,” President Drew Fernholz said in announcing the results of the vote. “GVCC offers a rare and much-sought-after A.W. Tillinghast course, a beautiful clubhouse, clay tennis courts, pool, central Twin Cities location, a rich and vibrant culture, and an incredibly talented and dedicated staff.
“These assets all make Golden Valley Country Club a top-tier club and this vote shows that our membership is committed to maintaining its ownership and getting the club back to prosperous times,” Fernholz added.
The club indicated in its announcement that it will now raise needed capital, without assessments to the membership, for improvements that will include engaging golf course restoration expert Keith Foster to complete a master-planning project for GVCC’s 18-hole, par-73 Tillinghast golf course, which was opened in 1928.
Additionally, the club said that its Board has approved a new “Friends and Family Plan” that will offer new limited-time initiation opportunities to make the club even more attractive to prospective members. Details of the plan were not revealed.